[C7JjVczP]

..... it isn't just California cities ..... the State itself is not far behind .....

..... the following video is 12 minutes of a good explanation of how the clusterfuck developed .....

..... it addressed the subject two years ago in the waning days of "the Governator" .....

..... the present Governor, Jerry Brown is the bastard that is/was responsible for putting the State on a course for the inevitable disaster back in the 1980's when he was Governor the first time .....

..... Brown was backed again in 2010 by the beneficiaries of the corrupt and overly generous State employment conditions .....

..... worth watching .....

Very interesting video, thanks gummer. When Cali goes bankrupt, which is going to happen as I don't see any reform, they will ask the Federal government for help. How is the US taxpayer supposed to bailout an economy that is as large as the UK (or was at one point) ?

The decline in private sector jobs is amazing.

The pension fund managers aren't going after the highest returns ?! WTF ? "social conscious" investments ? (has to be greentard related).

I have always wondered why public employees get pensions and why they don't have 401k like the rest of us.

In sum,

"If you continue with this system, it can only get worse and not better."